Which Cryptocurrency to Buy Today?
2018 has been a tough year for many crypto traders and investors. Many lost a lot of money, often even their entire trading capital. In many cases this wasn’t necessarily just due to bad trading, but often because of tax calculations the affected hadn’t been informed about in advance. The lesson we have to learn from that is that tax always have to be taken into account, for every singe trade. The best idea is to use a professional crypto trading accounting tool that will always precisely tell you where you stand in terms of taxes so you can check if you have enough cash to pay the taxes in the end. Always make sure you have the tax amount in fiat money so you would never have to sell BTC just to be able to pay taxes – which would again cause extra taxes.
The 2018 bear market led into an excellent buy area for altcoins. As you know one of the easiest investment strategies is to buy coins at cheap prices. This is what we fin din countless charts – altcoins that have been bleeding out over months and prices look like they can hardly fall any further. But be careful – they can. And if they do, you should be prepared to sell again. YOu can either check the old coins, if their project are still active and if they still have good fundamentals, or you can invest in brand new tokens after having checked their project, whitepaper, and some other metrics.
Or, you could still invest in one or the other ICO. The advantage of buying at Initial Coin Offerings is that you will get a certain coin for a very cheap price compared to when it is launched. What do you get in return? Different coins have different uses and one main thing that you should look for is the community behind the coin. Do they have the proper channels to address their release or are they just fishing for people to join the community in order to increase the value of their coin?
As we all know, any type of currency depends on how much it is used and recognized around the world. That is why as of this day, the USD (US Dollar) is still the top dog when it comes to Fiat currencies due to its acceptance all over the world. In the crypto world, we have BTC (Bitcoin) that is practically the face of cryptocurrency which all new ICO’s envy of getting on par with.
Beware of Social Media Marketing
Social Media are platforms that can be easily exploited when it comes to marketing something you want to sell. With this being said, it is not surprising to see a lot of ICO’s posting their plans and white papers on different social media websites to get attention almost instantly. Just like any investment, the sellers of these coins would always say that their coin will have great potential or will triple (or more) your investment by the time it is released. We just hope that this is true since we would like to think that it is for our own benefit, but the reality is that most of the coins that are “planned” would not even make it to the release date due to people not being interested in them. But of course, in order to maximize profit on your next crypto investment, ICO’s are still the way to go, just make sure that you study the coin first before jumping into any plans and avoid any “sweet talk” instead of doing hard research before investing.
Most Promising Crypto Projects in 2019
For your convenience, we have been looking into the most promising crypto projects for this year. Please be advised that we have included these due to their interesting points and that they might be a great hit one day. Without further delay, let’s talk about them!
- OmiseGo – An open source public blockchain that works like BTC and ETH is an open payment platform and decentralized exchange that aims to break down all payment barriers and provide services to people that lack traditional banks. Their coin OMG (OmiseGo) is currently $9.62 against USD and 0.00140727 BTC, and 0.02273600 ETH at the time this article is written. Circulating supply of OMG is at 102,042,552 and the total supply is 140,245,398.
- Siacoin – SIA is the words’ first decentralized storage platform wherein people will be able to store files on the cloud for a fraction of what we are paying standard cloud storage today! With the use of a technology called RS Codes or “Reed-Solomon Codes” the vision is now turning slowly into reality. The renters and hosts of the project use their Siacoin which is currently $0.012308 USD, and 0.00000180 BTC. Circulating SC today is at 33,732,067,740.
- Waves – Waves at its very core is about creating a “token” from any asset that you desire for 1 Wave Token. This means that you can virtually create any token you want from an asset that has value. This can be anything from stocks, commodities, crypto, fiat, or even an object with value as long as someone is willing to trade that with you. Once a token is created you can then trade it within their private market! The current value of Waves against USD is $3.70 and 0.00054085 BTC. Current circulating supply of waves is at 100,000,000.
- IOTA – IOTA uses distributed ledger instead of traditional blockchains. IOTA uses the power of its users meaning the more people are in the network, the faster the transactions are finished. Compared to traditional blockchain transactions, IOTA provides REAL free to use capabilities eliminating network fees that we always have to deal with regular crypto transactions. The current value of one IOTA coin or MIOTA is $1.05 USD or 0.00015389 BTC with a circulating and maximum supply of 2,779,530,283.
- Tron – A very ambitious project that plans to bring back the internet to its former glory where no one owns a single digital space. What the company behind the project is planning to do is provide a decentralized internet for everyone to use and create content like websites and applications with the use of DAPPs. Most of the team behind the project are young entrepreneurs from China and neighboring countries and is set to launch around 50 days from this article was written. Current TRX (TRON) coin is worth $0.035640 USD, 0.00000520 BTC and 0.00008376 ETH with a circulating supply of 65,748,111,645 and a total supply of 100,000,000,000.
- Nano – Active since 2015, Nano has provided zero fees and instant transactions that have found its way to the hearts of its users from around the world. The system provides faster transactions compared to its natural predecessor Bitcoin. The idea behind it is not something new but has been steadily accumulating its own community in the background and is something that you should look into. The current value of NANO is at $5.08 USD or 0.00074240 BTC with a circulating supply of 133,248,289 and a maximum of 133,248,290.
No, not the video game! If no one is talking about a certain coin that you’re interested in then there’s a huge chance that it wouldn’t take off! This is one of the things that you should always put in mind. The more talk about the coin, the better chance that it would last and would probably gain value over time.
When it comes to investing in interesting coins, you should always dedicate a fair amount of time on your computer just reading through white paper and forum posts about the coin that you’re interested in. Since if we judge just by what they write initially, then every ICO is the best! Always go for new innovations that can be of great use to our modern world.